The Chartered Institute of Marketing (CAM)
The management process of anticipating, identifying and satisfying customer requirements profitably CAM refers to requirements CAM definition discusses anticipating/identifying needs. CAM presupposes that marketing is a process with a profit motive, although it does not explicitly state whether or not this is for financial profit, egg could be gain in society, as in the case of charity.
The American Marketing Association (AMA) Marketing is the activity, set of institutions and processes for creating immunization, delivering and exchanging offerings that have value for customers, clients, partners and society at large. (Sheet and Cissoids, 2005): CAM/AMA recognizes marketing as a management process and an activity, although many other firms organism marketing as a discrete department rather than as a service across departments. CAM/AMA stresses the importance of considering the customer , of determining their requirements or needs.
CAM/AS recognize the need for marketers to undertake marking research and environmental scanning activity to satisfy customers and in the long term to anticipate customers needs. AMA refers to delivering value AMA discusses creating… Offerings that have value for the customer AMA is much clearer, argues that marketing is a process undertaken to benefit clients, partners and society at large.
French & AMA:
refer to an offer and offering, recognizing that marketing can be applied equally to the marketing of goods, services, ideas and in the not for profit sector.
Both recognize the widened concept of the applicability of marketing. French perspective Marketing is the endeavourer of adapting organizations to their competitive markets in order to influence in their favor, the behavior of their publics, with an offer whose perceived value is durably superior to that of the competition. French definition refers to developing an offer of superior value. Discusses the influencing behavior of publics, rather than customers, recognizing the wider remit of marketing in modern society. The challenge is to develop an offering that is durably superior to that of the competition.
Therefore this definition recognizes explicitly the importance of market segmentation and positioning concepts. All these definitions display how the concept of marketing has changed over the years, from transactional concepts like pricing, promotion and distribution to relationships concepts like the importance of customer trust, risk, commitment and co-creation. The nature of relationships between an organization and customers in its offerings and its mission, are different in not-for profit and for-profit organizations. Nevertheless, the broad principles of how marketing is used remain the same.
What is the difference between customers and consumers?
Definition: marketing By Koehler Customer: is a buyer, a purchaser, a patron, a client or a shopper. A customer is someone who buys from a shop, a website, a business, or another customer (e. G. EBay, Amazon exchange). A customer purchases or obtains an offering.
Consumer: Uses an offering (or eats it in the case of food).
Market orientation Marketing orientation:
A business approach or philosophy that focuses on identifying ND meeting the stated or hidden needs or wants of customers.
Developing a market orientation can make the organization more profitable, especially when there is limited competition, unchanging customer wants and needs, fast paced technological change and strong economies in operation. The difference between a market orientation and a marketing orientation:
Marketing orientation: a company that recognizes the importance of marketing within the organization, e. G. By appointing a marketing person to CEO, or Chairman, or to executive team in a limited company or readership.
Market orientation: A business approach or philosophy that focuses on identifying and meeting the stated or hidden needs or wants of customers. See also product orientation and sales orientation.
To develop a marketing plan you must develop:
Customer orientation – concerned with creating superior value by continuously developing and redeveloping offerings to meet customer needs. To do so we must measure customer satisfaction on a continuous basis and train front-line service staff accordingly. Competitor orientation International coordination